CenterTelecom held a Board of Directors meeting on December 16, 2002 at which the date, venue and agenda were set for the company's first joint shareholders meeting since the merger of CenterTelecom was completed.

The meeting is scheduled to be held on February 20, 2003 at 11 o'clock at the following address: Moscow, ul. Tverskaya, dom 7, Central Telegraph club 

The Board of Directors approved the following agenda for the general shareholders meeting:

1.       Premature termination of the authority of the director general, appointment of the company's director general and setting the duration of his term;

2.       Premature termination of the authority of the members of the Board of Directors and election of the Board of Directors of the company;

3.       Premature termination of the authority of the members of the Audit Committee and election of the Audit Committee of the company;

4.       Approval of the revised version of the Company Charter;

5.       Approval of the Rules and Regulations for Holding the General Shareholders Meeting of the Company (Revised Version);

6.       Approval of the Rules and Regulations for the Board of Directors of the Company (Revised Version);

7.       Approval of the Rules and Regulations for the Board of Management of the Company (Revised Version);

8.      Determining the Amount of Remuneration Payable to Members of the Board of Directors of the Company.

The list of individuals eligible to attend the joint shareholders meeting has been compiled based on the shareholders roster as of December 17, 2002.

Shareholders (a shareholder) holding at least two percent of the voting shares of the company are eligible to nominate candidates for the Board of the Directors of the company, the total number of which shall not exceed 11, and candidates for the Audit Committee, the total number of which shall not exceed 5, and candidates for the director general of the company.  All such nominations should be sent to the Company and received no later than January 20, 2003, inclusive.

Additional information on issues to be dealt with on the agenda of the joint shareholders meeting can be viewed on the company's corporate website at www.centrtelekom.ruas of January 30, 2003.